Constellation Brands Inc : Constellation Brands Statement Regarding
Discussions with DOJ
~Agreement in principle reached with DOJ; Parties request extension of the
present stay of proceedings until April 23, 2013 to finalize proposed consent
VICTOR, N.Y., April 5, 2013 - Constellation Brands, Inc. (NYSE: STZ and
STZ.B), Anheuser-Busch InBev (Euronext: ABI; NYSE: BUD), Grupo Modelo, S.A.B.
de C.V. (BMV: GMODELOC), and Crown Imports LLC have reached an agreement in
principle with the U.S. Department of Justice on a proposed resolution to the
Department of Justice's litigation challenging AB InBev's proposed acquisition
of the remaining stake in Grupo Modelo that it does not already own. The
proposed resolution is substantially in line with the revised transaction
announced on February 14, 2013.
In connection with this agreement, the parties and the Department of Justice
have jointly approached the Court and requested an extension of the stay of
the proceedings until April 23, 2013. This stay will allow the parties to
finalize the details of a proposed consent judgment and the related definitive
agreements and papers required for settlement. The parties stated in their
filing with the Court that they expect for this to be their final request to
extend the stay. Approval of the transaction, and the timing of such action,
remain subject to the finalization of the relevant documentation with the DOJ
and other parties, and approval by the Court.
The revised transaction with AB InBev remains subject to regulatory approval
About Constellation Brands
Constellation Brands is the world's leading premium wine company that achieves
success through an unmatched knowledge of wine consumers, storied brands that
suit varied lives and tastes, and more than 4,400 talented employees
worldwide. With a broad portfolio of widely admired premium products across
the wine, beer and spirits categories, Constellation's brand portfolio
includes Robert Mondavi, Clos du Bois, Kim Crawford, Inniskillin, Franciscan
Estate, Mark West, Ruffino, Simi, Estancia, Corona Extra, Black Velvet
Canadian Whisky and SVEDKA Vodka.
Constellation Brands (NYSE: STZ and STZ.B) is a S&P 500 Index and Fortune
1000® company with more than 100 brands in our portfolio, sales in about 100
countries and operations in approximately 40 facilities. The company believes
that industry leadership involves a commitment to our brands, to the trade, to
the land, to investors and to different people around the world who turn to
our products when celebrating big moments or enjoying quiet ones. We express
this commitment through our vision: to elevate life with every glass raised.
To learn more about Constellation, visit the company's website at
Angela Howland Blackwell: 585-678-7141
Cheryl Gossin: 585-678-7191
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Constellation Brands Inc via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.